THE NEW AGE OF AI FRAUD DETECTION Artificial intelligence

摘要

While artificial intelligence (AI) has gained a lot of attention this year - boosted by Elon Musk and Mark Zuckerberg's very public spat - the financial services industry has long used the technology in fraud detection. However, the AI used in the past was simple, rule based and fairly rigid, a way of automating experts' decision-making processes with an outcome in the form of a score - the higher the score, the greater the likelihood of fraud. Although the algorithms could be tweaked, they were incapable of learning or expanding their expertise.